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Solana Company's stock price plummeted by 60% in three days, falling below the PIPE pricing level

2025.10.21 08:16:33

On October 21st, the Digital Asset Treasury company Solana Company (HSDT) announced that it will permit investors participating in its $500 million PIPE financing round to sell shares ahead of schedule. In the past few days, the company's stock price has nosedived by 60%, dropping below the PIPE pricing level. In recent times, several newly established Digital Asset Treasury (DAT) companies have been raising funds through the PIPE model to purchase crypto assets. However, as stock prices have plunged during the lock-up period, this financing model is coming under significant pressure. Solana Company (HSDT) was formerly Helius Medical Technologies and was backed by Pantera Capital. The company stated that it is unlocking its $500 million PIPE round shares early because its stock price has fallen below the initial purchase price. These shares were initially sold in a private placement in September at a price of $6.881 per share, and the company has now announced that these shares will be eligible for early sale.
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